I had been a good, if not great, customer of ICICI for various products Savings Account, Loans (Home, Personal and Vehicle) and Credit Card.Let me put down my experiences with ICICI credit card and the on the back activity done by ICICI.
During 2008, Rs.1024/- has been charged against my credit card. I filed a complaint with ICICI and they asked me to fax the complaint as it is related to credit card fraud. Also I have been warned that if the complaint I have raised is wrong, I will be charged some amount. I agreed for every crap stuff that they had asked for and sent fax. I was waiting for nearly two months (that was the advised period for investigation completion by ICICI) and nothing happened. I filed online request with customer care requesting for the details.
To my surprise I got a call a day after I filed request and the So called "Account Manager" has said, he will be sending me the card immediately. But when I asked about the fraud investigation, he asked me to send the fax’d compalint letter thru mail, which I did. To my surprise I have got a prompt reply from ICICI saying that your complaint is received after 90 days from Txn and it can’t be processed and as usual no explanation of what happened to my fax or if my fax was missed, why I have not been informed that fax was never received.
The dispute went on for nearly 6 months and finally ICICI removed all charges associated with the fraud transaction and also the late payment fees associated with it , with few (little over dozen) mails going back and forth. And later after few months, the credit limit on my card has been brought down to nil. The reason given to me was pathetic "You have never used your credit and as per company revision, we have changed and nothing can be done on this".
I have been using one another bank credit card for about 5.5 years with credit limit worth of 75K and purchase limit about Rs.3 Lakhs. So I decided to get rid of my ICICI card and made all payment and got my card closed on May 2009.
When I recently applied for a loan in another bank, I came to know that ICICI put my name in CIBIL under credit card defaulters list. Now on the closed credit card, my fight with ICICI has started. Not sure how long this will go before I can get my name corrected on CIBIL records. Since Sep 24th to till I am writing this review, I had approached them atleast 5-6 times with nearly 1 - 1.5 hours of phone experience, still I am not able to get my credit card statement before closure for about 6 months. They promised to send immediately, before 9:00 a.m. in the morning and within 24 hours period. Probably the 24 hours period elapsed atleast 6 hours ago.
I am sure they are one of the large bank in India and has wide reach. They claim their customer care is the excellent one. Probably it is excellent one as long as you have some relationship with them. Though I do have relationship on other products, here their service is mind blowing.